INSIGHT:
What stands out here isn’t just negative funding —
it’s how weak the upside pressure has become.
Even as price pushed higher,
the premium couldn’t follow through.

→ buyers losing aggression
→ but shorts already piling in
That creates an unusual setup:

Momentum is fading,
yet positioning is leaning hard to one side.
Markets usually don’t reward crowded conviction.

This kind of imbalance tends to resolve
when least expected.